BUCHAREST: Romania's trade deficit widened by 4 percent to 6.3 billion euros ($8.12 billion) on the year in the first eight months, the National Statistics Board said on Wednesday.
The statistics board said CIF (cost/insurance/freight) imports rose 1.2 percent to 36.0 billion euros in January-August, while exports were up 0.7 percent to 29.7 billion euros.
Analysts expect exports to be significantly hit this year by the debt crisis in the euro zone, Romania's main trade partner.
The August trade shortfall was 1 billion euros, with exports posting a 0.6 percent rise.
Romania once ran a large trade shortfall that left it exposed to a financing crisis and seeking international aid but the gap has narrowed sharply as a deep recession in 2009 and 2010 weakened the currency and hit domestic consumption.
Comments
Comments are closed.